Monthly Archives: May 2009
HUD Withdraws Required-Use Definition from RESPA
After reviewing more than 1,200 public comments, the Department of Housing and Urban Development has rescinded a rule change that would have restricted builders’ abilities to forge preferred partnerships with lenders. HUD Secretary Shaun Donovan announced Monday the withdrawal of … Continue reading
The Obama administration is asking taxpayers to subsidize the Federal Housing Administration’s program for reverse mortgages
WASHINGTON (AP) — Falling home prices have forced the government to ask Congress for a $798 million taxpayer subsidy to prop up a program that lets senior citizens tap the equity in their homes. The government said Thursday that the … Continue reading
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30-day Rescission Period Dropped from California Bill
A California Assembly committee struck the controversial 30-day rescission period as one of several amendments to a reverse mortgage bill Monday, a spokeswoman for Assemblyman Mike Feuer, the bill’s author, said today. The Assembly Committee on Banking and Finance, on … Continue reading
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